Market View 8 December 2010

Wall Street ended mixed as "U.S. stocks lost most of
their gains to end near neutral on Tuesday, as a rise in
the dollar amid deficit worries took the steam out of early
enthusiasm over a U.S. deal to extend tax cuts."
Dow was up nearly 90 points at mid-day but ended the
day down 3 points, S&P 500 gained 1 point and
Nasdaq advanced 4 points.

I am sure that many readers had a good trading
day yesterday with so many stocks surging to the roof.
Genting charged pass the 2.11 again and closed at
2.14, quite a good showing and was rewarding as well.
Resistance is at stronghold 2.18
The plantation stocks also had a field day as they
were the really the main focus of the day.
First Resources rose to high of 1.53 before settling
to close at 1.52 with the 1.51 support level just a bid
away. It will face strong resistance at 1.58 level.

If you were watching Golden Agri at the final hour
of trading yesterday, then you would have witnessed
a very exciting tug-of-war battle at the 77cts resistance level.
Heavy bombardment were shelling at the resistance
but it stood strong and when the dust has settled,
the closing was at 77cts. Expect the same scenario today
but the resistance may be breached and it will become
a good support for the "aggressor". It will have next support
at 74cts and resistance at 82cts.

A few readers asked me for other stocks to watch-out for
potential breakout or movement. I noticed a few and they
are Sound Global, Ezion, Swiber. You don't need that many
stocks to make big in the market. Just follow the winners and
you are in good hand.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

If you have Skype, and would like to chat with me about
stocks and all others, you can ring me at my
email address: stocklobang@yahoo.com
I have currently a couple of members skyping with me
everyday,and they are having good trading results.
See their comments here:
http://stocklobang.blogspot.com/feeds/comments/default

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山